In any case, the amount of money changing hands in the hands of consumers is much lower than the amount of money issued to the banks by the Fed. First, because the Money Multiplier <1. Also, the Velocity of money is very low. John Hussman explains how that suppresses the inflation rate.Yeah, I've read quite a few "explanations".....but all those bright people didn't prevent the dotcom bubble, nor the housing derivatives bubble. I suspect that they're not preventing the bubble that the "money multiplier" oh so fortunately misses in its precise-to-several-decimal-points calculus.Like they said in another famous work of fiction....nothing to see behind the curtain, move along now!Poz(getting more cynical as time marches on, I suppose)
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